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United Media Group Issues Letter of Intent to Acquire Freight Solutions, Inc.

14 July 1997

United Media Group Issues Letter of Intent to Acquire Freight Solutions, Inc.

    MOUNT LAUREL, N.J., July 14 -- United Media Group, Inc.
(OTC BULLETIN BOARD: UMGI) announced today that it has entered into a non-
binding letter of intent with Freight Solutions, Inc.  The purpose of the
transaction is to acquire 100% of the issued and outstanding common stock of
Freight Solutions, Inc., in exchange for $4.5 million of UMGI stock.  There
will also be a bridge loan to Freight Solutions, Inc. for $1.0 million.
Freight Solutions, Inc. has proprietary software that reduces the cost of
shipping/transportation.
    Michael Monson, the current CEO of Freight Solutions, Inc., will remain
with the proposed new company as President of United Media's Freight
Transportation Division.  He will have a five-year employment contract.  Other
key personnel will be provided with employment agreements to maintain the
continuity of the organization.
    Under the terms of the letter of intent, a formal agreement must be
entered into within 120 days of the signing of the non-binding agreement.  It
is contemplated that UMGI will begin a secondary underwriting to continue the
funding of the acquisitions.  Some of the funds will be used to carry out
Freight Solutions, Inc.'s business plan.  Should UMGI fail to perform under
the conditions of the letter of intent, Freight Solutions, Inc. can cancel the
proposed acquisition.
    Projected revenue/earnings for Freight Solutions, Inc. in 1997 are
$11.0 million/$505,000; in 1998, the projections are $21.8 million/
$1.58 million.
    United Media Group, Inc. is a diversified holding company with primary
interests in the technology and automotive sectors.
    This news release contains forward-looking statements that involve risks
and uncertainties.  Actual results, including levels of revenues, margins, and
earnings, may differ from the results discussed in the forward-looking
statements.  Factors that might cause such a difference include, but are not
limited to, changes in order quantities by customers, general economic
conditions, and variations in the business of Freight Solutions, Inc.

SOURCE  United Media Group, Inc.